Connecticut fixed-rate mortgages structure
Are you a Connecticut borrower who’s better suited towards a mortgage with a conservative structure? Then a fixed-rate mortgage (FRM) with its never-changing interest rate and payment schedule may be the better choice. With it there are no surprises and no balloon payments so you won’t have to worry about refinancing. Thirty-year FRMs are the most common, however they are also offered for 10-, 15- 40- and even 50-year terms. One benefit of a shorter term loan is (usually) a lower interest rate.
